PRL announces profit of Rs759mn in 1HFY23

MG News | February 07, 2023 at 03:09 PM GMT+05:00

0:00

February 07, 2023 (MLN): Pakistan Refinery Limited (PRL) reported a profit of Rs759 million for the half-year ended December 31, 2022, compared to a loss of Rs114 million in the same period last year, a notice issued by PSX showed.

The increase in profit was driven by higher revenue, which rose 117.67% YoY to Rs130.35 billion.

The company also recorded a rise in operating expenses, administrative and distribution expenses, and finance cost.

The finance cost increased 62.47% YoY to Rs1.29 billion due to the rise in the policy rate.

The company paid Rs688.73 million in taxes, a 118.97% YoY increase, compared to Rs314.53 million in the same period last year.

The scrip of the company was being traded at Rs13.35, down by 2.13% DoD.

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